XAU/USD POTENTIAL SELL POSITIONS
XAU/USD 15M - The final pair I am looking at trading this week is the XAU/USD pair. As we can see price has penetrated the higher TF POI I had highlighted out.
What we have seen since is a break in bullish structure and the start of bearishness which tells me that the corrective wave could be finished and the next impulse is underway.
What I have gone ahead and done is found another Supply zone on the fractal structure, looking at the impulsive wave that broke the structure in the first place.
For my entry I have then moved down to the 1M & 5M for yet another supply zone that has presented itself from the rejection of the previous higher TF Supply zone, we just need price to penetrate that and show signs of rejection so we can enter (1754.58-1754.95).
What we have seen since is a break in bullish structure and the start of bearishness which tells me that the corrective wave could be finished and the next impulse is underway.
What I have gone ahead and done is found another Supply zone on the fractal structure, looking at the impulsive wave that broke the structure in the first place.
For my entry I have then moved down to the 1M & 5M for yet another supply zone that has presented itself from the rejection of the previous higher TF Supply zone, we just need price to penetrate that and show signs of rejection so we can enter (1754.58-1754.95).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.